Denver Investment Advisors LLC Has $10.02 Million Position in Marathon Petroleum Corporation (MPC)
Denver Investment Advisors LLC increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 191,446 shares of the oil and gas company’s stock after buying an additional 1,210 shares during the period. Denver Investment Advisors LLC’s holdings in Marathon Petroleum Corporation were worth $10,018,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of MPC. Retirement Systems of Alabama raised its stake in Marathon Petroleum Corporation by 2.0% in the first quarter. Retirement Systems of Alabama now owns 255,122 shares of the oil and gas company’s stock worth $12,894,000 after buying an additional 4,952 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Marathon Petroleum Corporation during the first quarter worth about $786,000. City Holding Co. raised its stake in Marathon Petroleum Corporation by 1,923.0% in the first quarter. City Holding Co. now owns 10,115 shares of the oil and gas company’s stock worth $511,000 after buying an additional 9,615 shares in the last quarter. Oakbrook Investments LLC raised its stake in Marathon Petroleum Corporation by 2.9% in the first quarter. Oakbrook Investments LLC now owns 49,000 shares of the oil and gas company’s stock worth $2,476,000 after buying an additional 1,400 shares in the last quarter. Finally, Wendell David Associates Inc. raised its stake in Marathon Petroleum Corporation by 5.2% in the first quarter. Wendell David Associates Inc. now owns 36,638 shares of the oil and gas company’s stock worth $1,852,000 after buying an additional 1,800 shares in the last quarter. 81.36% of the stock is currently owned by institutional investors.
Marathon Petroleum Corporation (MPC) opened at 51.89 on Wednesday. The company’s 50-day moving average price is $54.18 and its 200-day moving average price is $51.71. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The stock has a market cap of $26.27 billion, a P/E ratio of 30.94 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter last year, the firm posted $1.07 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Analysts predict that Marathon Petroleum Corporation will post $2.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.40 dividend. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. Marathon Petroleum Corporation’s payout ratio is 90.91%.
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A number of equities research analysts have issued reports on the company. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Cowen and Company increased their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.83 price target (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Finally, Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $58.62.
In related news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP C. Michael Palmer sold 4,568 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $52.04, for a total value of $237,718.72. Following the completion of the transaction, the vice president now owns 62,325 shares in the company, valued at approximately $3,243,393. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,568 shares of company stock worth $1,808,969. Insiders own 1.05% of the company’s stock.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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